HUADIAN FUXIN ENERGY CORPORATION LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(A joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 00816)
UNAUDITED INTERIM FINANCIAL STATEMENTS OF 2020
This announcement is made by Huadian Fuxin Energy Corporation Limited (the "Company") pursuant to Rules 13.09(2) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, the Laws of Hong Kong).
Reference is made to the Company's announcement dated 14 April 2015.
On 14 April 2015, the Company made an announcement in respect of the issue of the first tranche of medium-term notes in 2015 and the relevant prospectus. The principal amount of the first tranche of medium-term notes in 2015 is RMB2 billion. Details of the relevant documents relating to the medium-term notes have been published on the website of China Foreign Exchange Trading System (http://www.chinamoney.com.cn).
Pursuant to the relevant regulations in the People's Republic of China (the "PRC"), the Company's unaudited interim financial statements shall be published on the website of China Foreign Exchange Trading System (http://www.chinamoney.com.cn) and the website of Shanghai Clearing House (http://www.shclearing.com).
The following is the unaudited interim financial statements of the Company of 2020 prepared in accordance with the requirements of Accounting Standards for Business Enterprises issued by the Ministry of Finance of the PRC, which is also published on the website of China Foreign Exchange Trading System (http://www.chinamoney.com.cn) and the website of Shanghai Clearing House (http://www.shclearing.com).
By Order of the Board
Huadian Fuxin Energy Corporation Limited
HUANG Shaoxiong
Chairman of the Board
Beijing, the PRC, 31 August 2020
As at the date of this announcement, the executive Directors are Mr. HUANG Shaoxiong, Mr. WU Jianchun and Mr. DU Jiangwu; the non-executive Directors are Mr. TAO Yunpeng, Mr. SHI Chongguang and Mr. WANG Bangyi; and the independent non-executive Directors are Mr. ZHANG Bai, Mr. TAO Zhigang and Mr. WU Yiqiang.
Huadian Fuxin Energy Corporation Limited
Consolidated balance sheet 30 June 2020
(Expressed in Renminbi ("RMB") Yuan)
Assets | 30 June | 31 December | ||
2020 | 2019 | |||
Current assets | ||||
Cash at bank and on hand | 4,618,775,949 | 2,480,330,105 | ||
Account receivables | 1,821,765,515 | 1,807,316,889 | ||
Receivables financing | 11,447,818,312 | 7,707,857,319 | ||
Prepayments | 251,354,729 | 216,686,801 | ||
Other receivables | 154,468,876 | 195,723,305 | ||
Inventories | 418,109,632 | 281,242,030 | ||
Non-current assets due within one year | 16,381,882 | 16,381,882 | ||
Other current assets | 697,684,656 | 853,274,076 | ||
Total current assets | 19,426,359,551 | 13,558,812,407 | ||
Non-current assets | ||||
Long-term equity investments | 9,901,903,432 | 10,066,458,253 | ||
Other equity instruments investment | 564,475,512 | 677,664,235 | ||
Fixed assets | 69,755,411,358 | 67,637,890,829 | ||
Construction in progress | 12,645,091,493 | 14,134,592,453 | ||
Right-of-use assets | 894,631,605 | 911,880,987 | ||
Intangible assets | 2,594,622,667 | 2,558,075,839 | ||
Goodwill | 496,646,686 | 496,646,686 | ||
Long-term deferred expenses | 101,233,387 | 117,161,211 | ||
Deferred tax assets | 348,908,464 | 362,510,719 | ||
Other non-current assets | 1,450,554,843 | 1,532,569,259 | ||
Total non-current assets | 98,753,479,447 | 98,495,450,471 | ||
Total assets | 118,179,838,998 | 112,054,262,878 |
1
Huadian Fuxin Energy Corporation Limited
Consolidated balance sheet (continued) 30 June 2020
(Expressed in RMB Yuan)
Liabilities and shareholders' equity | 30 June | 31 December | ||
2020 | 2019 | |||
Current liabilities: | ||||
Short-term loans | 6,435,502,448 | 6,408,827,247 | ||
Bills payable | 65,000,000 | 90,444,300 | ||
Accounts payable | 5,509,213,169 | 5,890,161,554 | ||
Contract liabilities | 3,217,890 | 34,672,282 | ||
Employee benefits payable | 89,463,247 | 60,052,089 | ||
Taxes payable | 448,879,524 | 389,460,425 | ||
Other payables | 2,186,485,906 | 2,051,882,520 | ||
Non-current liabilities due within one year | 7,018,181,483 | 7,268,997,939 | ||
Other current liabilities | 2,011,146,230 | 26,755,158 | ||
Total current liabilities | 23,767,089,897 | 22,221,253,514 | ||
Non-current liabilities: | ||||
Long-term loans | 44,247,560,297 | 43,741,451,889 | ||
Debentures payable | 5,652,538,282 | 5,714,335,489 | ||
Lease liabilities | 521,945,990 | 526,852,639 | ||
Long-term payables | 14,371,340 | 10,891,665 | ||
Accrued liabilities | 179,732,280 | 197,223,960 | ||
Deferred income | 319,591,285 | 313,304,030 | ||
Deferred tax liabilities | 964,579,617 | 977,610,267 | ||
Total non-current liabilities | 51,900,319,091 | 51,481,669,939 | ||
Total liabilities | 75,667,408,988 | 73,702,923,453 | ||
Shareholders' equity: | ||||
Share capital | 8,407,961,520 | 8,407,961,520 | ||
Other equity instruments | 15,572,075,472 | 12,566,547,170 | ||
Including: Perpetual bonds | 15,572,075,472 | 12,566,547,170 | ||
Capital reserve | 1,776,055,245 | 1,768,731,993 | ||
Other comprehensive income | (96,940,436) | (3,641,363) | ||
Surplus reserve | 1,114,420,179 | 1,114,420,179 | ||
Retained earnings | 12,338,189,112 | 11,206,662,212 | ||
Total equity attributable to equity holders of the | ||||
Company | 39,111,761,092 | 35,060,681,711 | ||
Non-controlling interests | 3,400,668,918 | 3,290,657,714 | ||
Total shareholders' equity | 42,512,430,010 | 38,351,339,425 | ||
Total liabilities and shareholders' equity | 118,179,838,998 | 112,054,262,878 |
The financial statements have been signed by: | |||||
Huang Shaoxiong | Wang Huiping | Liu Canhui | |||
Legal Representative | The person in charge | The head of the | |||
of accounting affairs | accounting department |
2
Huadian Fuxin Energy Corporation Limited | ||||
Consolidated income statement | ||||
Six months ended 30 June 2020 | ||||
(Expressed in RMB Yuan) | ||||
For the six months | For the six months | |||
ended 30 June | ended 30 June | |||
2020 | 2019 | |||
Operating income | 9,378,009,094 | 9,770,869,060 | ||
Less: | Operating costs | 5,677,784,513 | 5,918,137,414 | |
Tax and surcharges | 87,847,811 | 91,657,377 | ||
Administrative expenses | 383,781,355 | 366,522,459 | ||
Financial expenses | 1,230,811,879 | 1,424,461,220 | ||
Including: Interest expenses | 1,245,924,438 | 1,430,934,698 | ||
Interest income | (16,361,730) | (12,811,801) | ||
Add: | Other income | 103,301,275 | 97,000,825 | |
Investment income | 274,197,732 | 334,684,447 | ||
Including: Income from investment in joint | ||||
ventures and associates | 266,698,165 | 299,150,205 | ||
Impairment reversal/(losses) on assets | 27,080 | (30,699,856) | ||
Credit impairment (losses)/reversal | (14,202,934) | 4,024 | ||
Asset disposal income | 26,533,335 | - | ||
Operating profit | 2,387,640,024 | 2,371,080,030 | ||
Add: | Non-operating income | 30,641,308 | 22,995,088 | |
Less: | Non-operating expenses | 7,724,365 | 3,852,616 | |
Profit before income tax | 2,410,556,967 | 2,390,222,502 | ||
Less: | Income tax expenses | 375,092,635 | 357,008,240 | |
Net profit for the year | 2,035,464,332 | 2,033,214,262 | ||
Classification according to the continuity of | ||||
operation | ||||
Net profit from continuing operation | 2,035,464,332 | 2,033,214,262 | ||
Classification according to ownership | ||||
Attributable to: Equity holders of the | ||||
Company | 1,893,738,488 | 1,783,736,431 | ||
Non-controlling interests | 141,725,844 | 249,477,831 |
3
Huadian Fuxin Energy Corporation Limited | ||||
Consolidated income statement (continued) | ||||
Six months ended 30 June 2020 | ||||
(Expressed in RMB Yuan) | ||||
For the six months | For the six months | |||
ended 30 June | ended 30 June | |||
2020 | 2019 | |||
Other comprehensive income, net of tax | ||||
Other comprehensive income attributable to the | ||||
holders of the Company, net of tax | ||||
Other comprehensive income which | ||||
cannot be reclassified into profit or loss | ||||
Changes at fair value of other equity | ||||
instruments investment | (95,612,228) | 672,965 | ||
Other comprehensive income which can | ||||
be reclassified into profit or loss | ||||
Translation differences arising on | ||||
translation of foreign currency | ||||
financial statements | 2,313,155 | (2,405,033) | ||
Total comprehensive income | 1,942,165,259 | 2,031,482,194 | ||
Attributable to: | ||||
Equity holders of the Company | 1,800,439,415 | 1,782,004,363 | ||
Non-controlling interests | 141,725,844 | 249,477,831 | ||
Earnings per share | ||||
Basic and diluted earnings per share | ||||
(RMB yuan per share) | 0.1886 | 0.1841 |
The financial statements have been signed by:
Huang Shaoxiong | Wang Huiping | Liu Canhui | |||
Legal Representative | The person in charge | The head of the | |||
of accounting affairs | accounting department |
4
Huadian Fuxin Energy Corporation Limited | |||||
Consolidated cash flow statement | |||||
Six months ended 30 June 2020 | |||||
(Expressed in RMB Yuan) | |||||
For the six | For the six | ||||
months ended | months ended | ||||
Cash flows from operating activities: | 30 June 2020 | 30 June 2019 | |||
Proceeds from sale of goods and rendering of services | 7,767,378,665 | 8,676,926,976 | |||
Refund of taxes | 54,333,656 | 39,498,166 | |||
Proceeds from other operating activities | 108,357,848 | 80,907,159 | |||
Decrease in restricted deposits | 3,948,309 | - | |||
Subtotal of cash inflows | 7,934,018,478 | 8,797,332,301 | |||
Payment for goods and services | 3,673,988,789 | 3,573,439,316 | |||
Payment to and for employees | 658,709,705 | 680,457,971 | |||
Payment of various taxes | 757,167,092 | 703,332,034 | |||
Payment for other operating activities | 1,553,741,545 | 245,751,390 | |||
Increase in restricted deposits | - | 5,818,346 | |||
Subtotal of cash outflows | 6,643,607,131 | 5,208,799,057 | |||
Net cash inow from operating activities | 1,290,411,347 | 3,588,533,244 | |||
Cash ows from investing activities: | 727,511,568 | 805,470,912 | |||
Investment proceeds received | |||||
Net proceeds from disposal of xed assets, intangible assets and | 27,508,728 | 3,923,089 | |||
other long-term assets | |||||
Proceeds from other investing activities | 14,617,276 | 12,811,801 | |||
Subtotal of cash inflows | 769,637,572 | 822,205,802 | |||
Payment for acquisition of xed assets, intangible assets and other | 3,188,014,527 | 1,460,284,490 | |||
long-term assets | |||||
Payment for investment | 264,575,000 | 348,740,000 | |||
Subtotal of cash outflows | 3,452,589,527 | 1,809,024,490 | |||
Net cash outow from investing activities | (2,682,951,955) | (986,818,688) | |||
Cash ows from nancing activities: | 5,001,768,826 | 2,032,119,655 | |||
Proceeds from investors | |||||
Including: Proceeds from non-controlling shareholders | 2,240,524 | 40,507,768 | |||
of subsidiaries | |||||
Proceeds from borrowings | 15,039,525,960 | 9,845,066,054 | |||
Cash received from the issuance of bonds | 1,999,056,604 | - | |||
Subtotal of cash inflows | 22,040,351,390 | 11,877,185,709 | |||
Repayments of borrowings | 14,830,136,662 | 13,588,928,442 | |||
Payment for dividends, prot distributions or interest | 1,614,222,280 | 1,648,015,953 | |||
Including: Dividends and prots paid to non-controlling | 10,603,000 | 94,898,566 | |||
shareholders of subsidiaries | |||||
Other cash used in financing activities | 2,058,067,669 | 41,247,449 | |||
Subtotal of cash outflows | 18,502,426,611 | 15,278,191,844 | |||
Net cash inow / (outflow) from nancing activities | 3,537,924,779 | (3,401,006,135) | |||
Effect of foreign exchange rate changes on cash and cash | |||||
equivalents | (2,990,018) | (263,639) | |||
Net increase / (decrease) in cash and cash equivalents | 2,142,394,153 | (799,555,218) | |||
Add: Cash and cash equivalents at the beginning of the year | 2,457,846,270 | 3,597,840,533 | |||
Less: Cash and bank balance classified as held for sale | - | 251,285 | |||
Cash and cash equivalents at the end of the year | 4,600,240,423 | 2,798,034,030 |
The financial statements have been signed by:
Huang Shaoxiong | Wang Huiping | Liu Canhui | |||
Legal Representative | The person in charge | The head of the | |||
of accounting affairs | accounting department |
5
Huadian Fuxin Energy Corporation Limited | ||||
Company balance sheet | ||||
30 June 2020 | ||||
(Expressed in RMB Yuan) | ||||
Assets | 30 June | 31 December | ||
2020 | 2019 | |||
Current assets | ||||
Cash at bank and on hand | 652,207,779 | 69,016,269 | ||
Account receivables | 88,005,300 | 22,163,729 | ||
Receivables financing | - | 754,360 | ||
Prepayments | 6,574,623 | 6,712,784 | ||
Other receivables | 2,212,801,486 | 1,388,779,138 | ||
Inventories | 1,508,976 | 1,283,396 | ||
Other current assets | 17,655,398 | 19,276,635 | ||
Total current assets | 2,978,753,562 | 1,507,986,311 | ||
Non-current assets | ||||
Long-term receivables | 6,119,048,900 | 5,255,808,900 | ||
Long-term equity investments | 34,356,767,095 | 33,219,959,495 | ||
Other equity instruments investment | 333,322,131 | 381,434,776 | ||
Fixed assets | 1,742,757,510 | 1,793,721,094 | ||
Construction in progress | 487,898,440 | 714,267,252 | ||
Right-of-use assets | 183,486,739 | 199,491,101 | ||
Intangible assets | 110,596,109 | 112,170,750 | ||
Goodwill | 23,896,627 | 23,896,627 | ||
Long-term deferred expenses | 6,381,321 | 5,914,601 | ||
Other non-current assets | 23,044,040 | 23,617,325 | ||
Total non-current assets | 43,387,198,912 | 41,730,281,921 | ||
Total assets | 46,365,952,474 | 43,238,268,232 |
6
Huadian Fuxin Energy Corporation Limited
Company balance sheet (continued) 30 June 2020
(Expressed in RMB Yuan) | ||||
Liabilities and shareholders' equity | 30 June | 31 December | ||
2020 | 2019 | |||
Current liabilities: | ||||
Short-term loans | 3,400,000,000 | 4,150,000,000 | ||
Accounts payable | 56,501,225 | 90,000,634 | ||
Employee benefits payable | 7,373,321 | 4,494,966 | ||
Taxes payable | 35,766,936 | 25,623,780 | ||
Other payables | 1,713,757,060 | 2,294,361,916 | ||
Non-current liabilities due within one year | 100,219,885 | 107,520,426 | ||
Other current liabilities | 1,999,358,004 | 67,118 | ||
Total current liabilities | 7,312,976,431 | 6,672,068,840 | ||
Non-current liabilities: | ||||
Long-term loans | 561,572,848 | 586,848,173 | ||
Debentures payable | 5,034,134,324 | 5,033,341,109 | ||
Lease liabilities | 139,862,652 | 147,912,299 | ||
Long-term payables | 2,059,540 | 284,065 | ||
Deferred income | 1,594,656 | 1,629,656 | ||
Deferred tax liabilities | 23,238,863 | 35,367,884 | ||
Accrued liabilities | 179,732,280 | 197,223,960 | ||
Total non-current liabilities | 5,942,195,163 | 6,002,607,146 | ||
Total liabilities | 13,255,171,594 | 12,674,675,986 | ||
Shareholders' equity: | ||||
Share capital | 8,407,961,520 | 8,407,961,520 | ||
Other equity instruments | 15,572,075,472 | 12,566,547,170 | ||
Including: Perpetual bonds | 15,572,075,472 | 12,566,547,170 | ||
Capital reserve | 2,378,187,790 | 2,370,864,538 | ||
Other comprehensive income | 60,429,677 | 96,514,160 | ||
Surplus reserve | 1,114,420,179 | 1,114,420,179 | ||
Retained earnings | 5,577,706,242 | 6,007,284,679 | ||
Total shareholders' equity | 33,110,780,880 | 30,563,592,246 | ||
Total liabilities and shareholders' equity | 46,365,952,474 | 43,238,268,232 |
The financial statements have been signed by:
Huang Shaoxiong | Wang Huiping | Liu Canhui | |||
Legal Representative | The person in charge | The head of the | |||
of accounting affairs | accounting department |
7
Huadian Fuxin Energy Corporation Limited
Company income statement Six months ended 30 June 2020 (Expressed in RMB Yuan)
For the six months | For the six months | ||||
ended 30 June | ended 30 June | ||||
2020 | 2019 | ||||
Operating income | 299,796,058 | 416,112,101 | |||
Less: | Operating costs | 188,578,665 | 200,198,832 | ||
Tax and surcharges | 3,444,563 | 4,573,978 | |||
Administrative expenses | 74,008,904 | 88,894,152 | |||
Financial expenses | 43,494,495 | 100,863,751 | |||
Including: Interest expenses | 169,497,395 | 204,487,618 | |||
Interest income | (126,117,977) | (107,879,139) | |||
Add: | Other income | 1,134,808 | 652,056 | ||
Investment income | 348,763,603 | 353,990,000 | |||
Including: Income from investment in joint | |||||
ventures and associates | 268,119,689 | 251,940,000 | |||
Credit impairment (losses)/reversal | (5,651,942) | 37,020 | |||
Operating profit | 334,515,900 | 376,260,464 | |||
Add: | Non-operating income | 512,500 | 217,458 | ||
Less: | Non-operating expenses | 2,496,108 | 2,037,344 | ||
Profit before income tax | 332,532,292 | 374,440,578 | |||
Less: | Income tax expenses | (100,860) | - | ||
Net profit for the year | 332,633,152 | 374,440,578 | |||
Classification according to the continuity of | |||||
operation | |||||
Net profit from continuing operation | 332,633,152 | 374,440,578 | |||
Other comprehensive income, net of tax | |||||
Other comprehensive income which | |||||
cannot be reclassified into profit or loss | |||||
Changes at fair value of other equity | |||||
instruments investment | (36,084,483) | (29,111,247) | |||
Total comprehensive income | 296,548,669 | 345,329,331 |
The financial statements have been signed by:
Huang Shaoxiong | Wang Huiping | Liu Canhui | |||
Legal Representative | The person in charge | The head of the | |||
of accounting affairs | accounting department |
8
Huadian Fuxin Energy Corporation Limited | |||||
Company cash flow statement | |||||
Six months ended 30 June 2020 | |||||
(Expressed in RMB Yuan) | |||||
For the six | For the six | ||||
months ended | months ended | ||||
Cash flows from operating activities: | 30 June 2020 | 30 June 2019 | |||
Proceeds from sale of goods and rendering of services | 273,495,900 | 617,817,524 | |||
Proceeds from other operating activities | 1,099,808 | 652,056 | |||
Subtotal of cash inflows | 274,595,708 | 618,469,580 | |||
Payment for goods and services | 10,986,419 | 19,799,974 | |||
Payment to and for employees | 148,670,232 | 118,053,779 | |||
Payment of various taxes | 13,907,088 | 28,245,581 | |||
Increase in restricted deposits | 4,588 | - | |||
Payment for other operating activities | 578,639,972 | 1,714,126,032 | |||
Subtotal of cash outflows | 752,208,299 | 1,880,225,366 | |||
Net cash outflow from operating activities | (477,612,591) | (1,261,755,786) | |||
Cash ows from investing activities: | |||||
Investment proceeds received | 729,659,443 | 1,095,407,371 | |||
Net proceeds from disposal of xed assets, intangible assets and | 468,459 | 82,396 | |||
other long-term assets | |||||
Proceeds from other investing activities | 209,977,113 | 114,649,920 | |||
Subtotal of cash inflows | 940,105,015 | 1,210,139,687 | |||
Payment for acquisition of xed assets, intangible assets and | 58,697,097 | 152,415,657 | |||
other long-term assets | |||||
Decrease in restricted deposits | - | 4,640 | |||
Payment for investments | 1,574,914,659 | 1,217,220,000 | |||
Other cash paid related to investing activities | 2,122,723,672 | 850,950,000 | |||
Subtotal of cash outflows | 3,756,335,428 | 2,220,590,297 | |||
Net cash outow from investing activities | (2,816,230,413) | (1,010,450,610) | |||
Cash ows from nancing activities: | 4,999,528,302 | 1,991,611,887 | |||
Proceeds from investors | |||||
Proceeds from borrowings | 7,354,950,000 | 3,125,000,000 | |||
Cash received from the issuance of bonds | 1,999,056,604 | - | |||
Subtotal of cash inflows | 14,353,534,906 | 5,116,611,887 | |||
Repayments of borrowings | 8,132,399,423 | 3,072,787,391 | |||
Payment for dividends, prot distributions or interest | 320,788,368 | 270,914,160 | |||
Other cash used in financing activities | 2,023,030,236 | 18,214,109 | |||
Subtotal of cash outflows | 10,476,218,027 | 3,361,915,660 | |||
Net cash inow from nancing activities | 3,877,316,879 | 1,754,696,227 | |||
Effect of foreign exchange rate changes on cash and | |||||
cash equivalents | (286,953) | (830,203) | |||
Net increase/(decrease) in cash and cash equivalents | 583,186,922 | (518,340,372) | |||
Add: Cash and cash equivalents at the beginning of the year | 66,438,342 | 742,577,094 | |||
Cash and cash equivalents at the end of the year | 649,625,264 | 224,236,722 |
The financial statements have been signed by:
Huang Shaoxiong | Wang Huiping | Liu Canhui | |||
Legal Representative | The person in charge | The head of the | |||
of accounting affairs | accounting department |
9
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Huadian Fuxin Energy Corporation Ltd. published this content on 31 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2020 14:34:06 UTC
